Kolkata: Ms Elizabeth Thabethe, South Africa's deputy minister of trade and industry, will lead a delegation of 45 South African business people on an Investment and Trade Initiative (ITI) to Chennai and Mumbai in India from March 19-23, 2012.
The ITI is part of the Department of Trade and Industry's export and investment promotion strategy that focuses on India, amongst others, as a high growth export market. Both legs of the ITI will include a mini exhibition where South Africa's capabilities in sectors like agro processing, beneficiated metals, mining technology, automotive components, electro-technical and logistics will beshowcased .
"Participation by South African companies in the ITI will provide an excellent platform for identifying trade and investment opportunities in the two countries in the targeted sectors, createawareness of South African value added goods and services, and increase South Africa's exports to India. It will also facilitate increased foreign direct investment into South Africa as well as joint ventures between South African and Indian companies," Thabethe said.
Bilateral trade between South Africa and India has experienced an upward trend between from $2.2 billion to $5.7 billion between 2006 and 2010. The total trade increased by an average of 28% between 2009 and 2010 and the average growth rate over the past 4 years is 30.4%. Trade statistics depict a trade balance in favour of South Africa since 2009.
South Africa's exports to India mainly comprise of raw materials and unprocessed goods (coal, briquettes, solid fuels, manganese ores, copper ores, ferrous waste and scrap metal) and there is a drive to diversify from exporting unprocessed raw materials to value added products and services. Imports from India comprise of petroleum oils, motor cars/vehicles, telephone sets including telephones for cellular networks, equipment and motor vehicles for transporting goods.
Indian multinationals that have entered the South African market include, Tata Steel, Tata Motors, Tata Consultancy Services, Mahindra Group, Cipla, Ranbaxy and Ashok Leyland. Total foreign direct investment from India to South Africa, to date, amounts to approximately $3.8 billion.
South African multinationals have also been active in India with South African Breweries acquiring a majority stake in Mysore Breweries and energy giant Sasol exploring the possibility of setting up a multibillion dollar plant in India. In addition the Airports Company of South Africa, as part of GVK Consortium won a bid for the modernisation of Mumbai Airport.
Success in my Habit
Sunday, March 18, 2012
Thursday, March 15, 2012
IBM ties up with Ingersoll Rand
Bangalore: IBM and Ingersoll Rand have come together to provide remote energy and asset management solutions for the Indian market. This move is aimed at driving energy efficiencies for organisations in the infrastructure segment (such as realtors and SEZs) or other sectors such as hospitality, health, pharma and telecom.
According to this partnership, IBM will bring in the analytics and other solutions (to help trigger preventive and predictive maintenance) and Ingersoll Rand will provide the energy management solutions. This solution leverages IBM's Intelligent Building Management system that is a combination of monitoring, asset management and advanced analytics along with Ingersoll Rand's energy optimisation technologies.
According to this partnership, IBM will bring in the analytics and other solutions (to help trigger preventive and predictive maintenance) and Ingersoll Rand will provide the energy management solutions. This solution leverages IBM's Intelligent Building Management system that is a combination of monitoring, asset management and advanced analytics along with Ingersoll Rand's energy optimisation technologies.
Rs 1,000-cr plant in Karnataka
Mumbai: Tata Motors will invest around Rs 800-1000 crore over the next two-three years on a plant in Dharwar, Karnataka.
This additional plant in Dharwar with a capacity of around 90,000 units annually will exclusively manufacture the Tata Ace Zip and Magic Iris. The plant is expected to reach full capacity by end of the next fiscal, said Mr Ravi Pisharody, President, Commercial Vehicle Business Unit, Tata Motors.
Launched in May 2011, the Ace Zip and Magic Iris are vehicles in the 0.5-tonne category. January to March is the peak production period, he said.
“We have a 80-85 per cent market share in this category. We are carving a special facility for the Zip and Iris due to the rise in demand for these vehicles,” he said. The demand for this category came mainly from the small businessmen “who carry small loads to work and back or have a small store-house in their homes,” he added. This category is expected to see growth in the 15-20 per cent range.
The Tata Ace Zip saw total sales of 3,000 last month, while the Magic Iris saw sales of around 1,000 units.
This additional plant in Dharwar with a capacity of around 90,000 units annually will exclusively manufacture the Tata Ace Zip and Magic Iris. The plant is expected to reach full capacity by end of the next fiscal, said Mr Ravi Pisharody, President, Commercial Vehicle Business Unit, Tata Motors.
Launched in May 2011, the Ace Zip and Magic Iris are vehicles in the 0.5-tonne category. January to March is the peak production period, he said.
“We have a 80-85 per cent market share in this category. We are carving a special facility for the Zip and Iris due to the rise in demand for these vehicles,” he said. The demand for this category came mainly from the small businessmen “who carry small loads to work and back or have a small store-house in their homes,” he added. This category is expected to see growth in the 15-20 per cent range.
The Tata Ace Zip saw total sales of 3,000 last month, while the Magic Iris saw sales of around 1,000 units.
Suzlon wins orders for 20 MW in UK
Pune: Suzlon Group subsidiary REpower Systems SE has signed contracts to supply wind turbines for two wind farms in England for a total of 20 MW of power.
Armistead wind farm in South Cumbria, owned by Banks Renewables, will see six REpower MM82 machines installed while Carsington Pasture wind farm owned by International Power, an independent power generation company, will consist of four MM82 wind turbines.
Armistead wind farm will have a rated output of 12 MW and will generate enough electricity to power the equivalent of nearly 7,000 homes annually, while those at Carsington wind farm will in total generate enough electricity to power the equivalent of at least 4,500 homes. Both projects are expected to be completed in early 2013.
Flimby wind farm REpower's first project with International Power was signed at the end of 2011. It will consist of three MM82 and is scheduled for completion at the end of 2012.
Since its launch in 2004, REpower UK has delivered 37 onshore wind farms in Scotland, England and Wales and two offshore wind farms: Project Beatrice in the North Sea and its largest offshore contract to date in the UK is the Ormonde wind farm, owned by Vattenfall.
This offshore wind farm in the Irish Sea consists of the 30 REpower 5M wind turbines with a total rated output of 150 MW.
Armistead wind farm in South Cumbria, owned by Banks Renewables, will see six REpower MM82 machines installed while Carsington Pasture wind farm owned by International Power, an independent power generation company, will consist of four MM82 wind turbines.
Armistead wind farm will have a rated output of 12 MW and will generate enough electricity to power the equivalent of nearly 7,000 homes annually, while those at Carsington wind farm will in total generate enough electricity to power the equivalent of at least 4,500 homes. Both projects are expected to be completed in early 2013.
Flimby wind farm REpower's first project with International Power was signed at the end of 2011. It will consist of three MM82 and is scheduled for completion at the end of 2012.
Since its launch in 2004, REpower UK has delivered 37 onshore wind farms in Scotland, England and Wales and two offshore wind farms: Project Beatrice in the North Sea and its largest offshore contract to date in the UK is the Ormonde wind farm, owned by Vattenfall.
This offshore wind farm in the Irish Sea consists of the 30 REpower 5M wind turbines with a total rated output of 150 MW.
Biz jet maker Gulfstream upbeat on India
Hyderabad: Aircraft maker Gulfstream Aerospace Corp has garnered a big chunk of business jets business in the Asia-Pacific region and sees India as the next big opportunity along with China.
Taking part at the India Aviation Show 2012 being held at Hyderabad, top executives of Gulfstream stated that their business mix has changed over the last decade with non-US business going up.
They now have an overall order book of $17.9 billion as of 2011.
Mr Roger Sperry, Regional Senior Vice-President of Gulfstream, Aerospace, said business jets drive business and India is no exception. Of the 84-odd mid and large bodied jets in India, Gulfstream has 20 of them flying. Even in the Asia-Pacific region, Gulstream has a 48 per cent market share in the large cabin aircraft segment.
“We are optimistic as the Indian GDP is poised for growth so is the case with corporate entities. We see private jets driving economic growth,” Mr Sperry said.
G150
The company is showcasing entry-level G150 and another larger bodied aircraft G450 at the show.
The all-new G650 is ready for delivery later this year. About 20 of these are getting final touches and interiors done for delivery .
“Part of the General Dynamics, Gulfstream has grown its business through the downturn. If we delivered 94 jets in 2009, it was 99 in 2010 and 107 last year. In 2011, 90 were large cabin aircraft and 17 mid-cabin ones,” he explained.
The company has been investing heavily on its service organisation. In the $1.2 billion spare parts arm, over 3,500 engineers work. This includes 33 facilities of Jet Aviation, which had come through an acquisition.
Taking part at the India Aviation Show 2012 being held at Hyderabad, top executives of Gulfstream stated that their business mix has changed over the last decade with non-US business going up.
They now have an overall order book of $17.9 billion as of 2011.
Mr Roger Sperry, Regional Senior Vice-President of Gulfstream, Aerospace, said business jets drive business and India is no exception. Of the 84-odd mid and large bodied jets in India, Gulfstream has 20 of them flying. Even in the Asia-Pacific region, Gulstream has a 48 per cent market share in the large cabin aircraft segment.
“We are optimistic as the Indian GDP is poised for growth so is the case with corporate entities. We see private jets driving economic growth,” Mr Sperry said.
G150
The company is showcasing entry-level G150 and another larger bodied aircraft G450 at the show.
The all-new G650 is ready for delivery later this year. About 20 of these are getting final touches and interiors done for delivery .
“Part of the General Dynamics, Gulfstream has grown its business through the downturn. If we delivered 94 jets in 2009, it was 99 in 2010 and 107 last year. In 2011, 90 were large cabin aircraft and 17 mid-cabin ones,” he explained.
The company has been investing heavily on its service organisation. In the $1.2 billion spare parts arm, over 3,500 engineers work. This includes 33 facilities of Jet Aviation, which had come through an acquisition.
Singapore's GIC invests $100m in Vasan Healthcare
Chennai: Sovereign fund Government of Singapore Investment Corporation (GIC) has picked up a minority stake in Vasan Healthcare Enterprise, an eye care chain, for $100 million. Vasan will use the funds to "expand rapidly in new geographies, besides look at acquisitions", A M Arun, chairman of Vasan, said.
The company had earlier raised about $50 million from Sequoia and Westbridge in three rounds of investments in the last three years. Vasan, which started as a stand-alone pharmacy in Trichy in 1947, set up its first eye care hospital in 2002 in Trichy. Today, the company has over 100 hospitals in 11 states.
Arun did not divulge the stake diluted or the valuation at which the stake was sold. Cumulatively, all three investors still hold minority stake, he said. GIC will be offered one seat on the company's board. Spark Capital was the adviser to the transaction.
The company had earlier raised about $50 million from Sequoia and Westbridge in three rounds of investments in the last three years. Vasan, which started as a stand-alone pharmacy in Trichy in 1947, set up its first eye care hospital in 2002 in Trichy. Today, the company has over 100 hospitals in 11 states.
Arun did not divulge the stake diluted or the valuation at which the stake was sold. Cumulatively, all three investors still hold minority stake, he said. GIC will be offered one seat on the company's board. Spark Capital was the adviser to the transaction.
DLF inks pact with US accessories brand Claire
New Delhi: DLF Brands and American fashion accessories brand Claire have entered into a franchise agreement to open at least 30 stores in the next three years. The retail arm of DLF Group has a slew of international brands under its umbrella including Boggi Milano, DKNY, Alcott, Sunglass Hut, ELC, Mothercare. “The first-ever Claire store in Delhi is a 100 per cent franchised store and is part of our overall strategy of bringing new range of product lines to our customers. The fashion accessories market in India is largely dominated by unbranded players, therefore we see a huge market potential for branded players in this segment,” Mr Dipak Agarwal, Chief Executive, Operations and Strategy, DLF Brands, said. He said the market for accessories is estimated at Rs 1,000 crore and is growing at about 20 per cent. “We have seen a growth of about 23-28 per cent in the last two years. DLF Brands has always been very selective of the brands that we introduce to the Indian customers. We are hopeful of a good response for the Claire's store and plan to open over 30 such stores across India in the next three years.” Claire's products are priced between Rs 300 and Rs 3,000.
Infosys inks deal with Glaxo for digital marketing
Bangalore: IT major Infosys on Tuesday said it has bagged a deal to offer digital marketing services to pharma major GlaxoSmithKline (GSK).
As a part of the deal, Infosys will use the services of Fabric Worldwide, a WPP entity, to effectively deliver GSK's digital engagement with its stakeholders. Infosys did not disclose the size of the deal.
Infosys will also create a Global Digital Services (GDS), shared service to standardise processes and best practices across multiple digital channels, including social media. It will also build a ‘Digital Marketing Platform' to deliver the services on the cloud.
This platform will allow GSK to analyse as well as understand its consumers better and leverage that insight to drive more business. “In the coming years, pharmaceutical companies will be leveraging digital media to connect with their sales force, customers, physicians and others in the industry,” said Mr Dheeshjith V.G., Senior Vice-President and Global head of Life Sciences, Infosys.
An analyst who did not want to be identified said such a large deal will help Infosys catch up with its competitors such as Wipro, TCS and Cognizant which already have some exposure to this domain and have bagged some projects as well in the US and other markets. At present, Infosys' revenues from projects such as these constitute 2.5–3 per cent.
In September last year, Ms Sangita Singh, Senior Vice-President of Healthcare and Lifesciences Strategic Business Unit of Wipro, toldBusiness Linethat the IT major is “aggressively looking at inorganic growth, especially niche providers focused only on health and life-sciences and preferably in the analytics and mobility space.”
As a part of the deal, Infosys will use the services of Fabric Worldwide, a WPP entity, to effectively deliver GSK's digital engagement with its stakeholders. Infosys did not disclose the size of the deal.
Infosys will also create a Global Digital Services (GDS), shared service to standardise processes and best practices across multiple digital channels, including social media. It will also build a ‘Digital Marketing Platform' to deliver the services on the cloud.
This platform will allow GSK to analyse as well as understand its consumers better and leverage that insight to drive more business. “In the coming years, pharmaceutical companies will be leveraging digital media to connect with their sales force, customers, physicians and others in the industry,” said Mr Dheeshjith V.G., Senior Vice-President and Global head of Life Sciences, Infosys.
An analyst who did not want to be identified said such a large deal will help Infosys catch up with its competitors such as Wipro, TCS and Cognizant which already have some exposure to this domain and have bagged some projects as well in the US and other markets. At present, Infosys' revenues from projects such as these constitute 2.5–3 per cent.
In September last year, Ms Sangita Singh, Senior Vice-President of Healthcare and Lifesciences Strategic Business Unit of Wipro, toldBusiness Linethat the IT major is “aggressively looking at inorganic growth, especially niche providers focused only on health and life-sciences and preferably in the analytics and mobility space.”
GM to utilise Indian diesel facility globally
New Delhi: Driven by the robust demand for diesel vehicles in the Indian market, the US-based auto major, General Motors, is working on developing diesel engines for the range of vehicles lined up for launch in the country. The capability for which will then find its way to other diesel-intensive markets globally.
The company, which has already introduced a diesel version of small car Beat in mid-2011, is looking at introducing diesel variants of premium hatchback Sail and the new multi-purpose vehicle later in the year. The diesel engine technology for these vehicles has been developed by the car maker in India, and will later be made available to markets in North and South Africa to begin with.
Lowell Paddock, president and managing director, General Motors India, said, “The diesel development carried out on our future Sail and MPV programmes will certainly support entry into markets outside India where consumers have a strong preference for diesel engines.”
Though no destinations have been finalised for exporting diesel technology from India, company executives indicated that markets in North and South Africa would be considered initially.
While the company does not have any plans to manufacture the 1.0 litre diesel engine for the Beat elsewhere in the world, no final call has been taken as to whether diesel engines for the Sail and the MPV will be manufactured exclusively in India.
The 1.0 litre diesel engine for the Beat (the company’s smallest diesel engine globally) is manufactured at GM’s plant in Talegaon, Maharashtra. The capability for diesel engines is being developed by GM’s technical centre in Bangalore which currently has 2,100 employees. The company has five engineering centres, four design centres and nine satellite research and development facilities within GM International Operations. The technical centre India in Bangalore is a medium-sized engineering operation which specialises in tailoring vehicles for the Indian market while also undertaking engineering work for GM globally
P Balendran, vice-president (corporate affairs), informed, “Diesel vehicles constitute around 42-45 per cent of overall passenger vehicle sales today. But wherever, petrol and diesel variants are both available, 80 per cent of sales come from the diesel option. If I talk about the Beat alone, diesel sales used to be 40 per cent earlier, now it has gone up to 80 per cent. It has thus become important to develop the capability.”
Industry estimates say diesel variants accounted for 28 per cent of passenger vehicle sales in the last financial year. With petrol prices rising five times in the current financial year, the differential between the two fuels now stand at Rs 25.51 per litre, up from Rs 10 in April 2010, making an increasing number of consumers opt for diesel cars.
The company, which has already introduced a diesel version of small car Beat in mid-2011, is looking at introducing diesel variants of premium hatchback Sail and the new multi-purpose vehicle later in the year. The diesel engine technology for these vehicles has been developed by the car maker in India, and will later be made available to markets in North and South Africa to begin with.
Lowell Paddock, president and managing director, General Motors India, said, “The diesel development carried out on our future Sail and MPV programmes will certainly support entry into markets outside India where consumers have a strong preference for diesel engines.”
Though no destinations have been finalised for exporting diesel technology from India, company executives indicated that markets in North and South Africa would be considered initially.
While the company does not have any plans to manufacture the 1.0 litre diesel engine for the Beat elsewhere in the world, no final call has been taken as to whether diesel engines for the Sail and the MPV will be manufactured exclusively in India.
The 1.0 litre diesel engine for the Beat (the company’s smallest diesel engine globally) is manufactured at GM’s plant in Talegaon, Maharashtra. The capability for diesel engines is being developed by GM’s technical centre in Bangalore which currently has 2,100 employees. The company has five engineering centres, four design centres and nine satellite research and development facilities within GM International Operations. The technical centre India in Bangalore is a medium-sized engineering operation which specialises in tailoring vehicles for the Indian market while also undertaking engineering work for GM globally
P Balendran, vice-president (corporate affairs), informed, “Diesel vehicles constitute around 42-45 per cent of overall passenger vehicle sales today. But wherever, petrol and diesel variants are both available, 80 per cent of sales come from the diesel option. If I talk about the Beat alone, diesel sales used to be 40 per cent earlier, now it has gone up to 80 per cent. It has thus become important to develop the capability.”
Industry estimates say diesel variants accounted for 28 per cent of passenger vehicle sales in the last financial year. With petrol prices rising five times in the current financial year, the differential between the two fuels now stand at Rs 25.51 per litre, up from Rs 10 in April 2010, making an increasing number of consumers opt for diesel cars.
Tata Steel tops list of most-admired companies
Mumbai: Tata Steel topped the list of India's 50 most-admired companies in a survey compiled byFortune Indiaand global management consultancy Hay Group.
The list of admired companies was prepared on the basis of a survey of 507 executives across 291 companies.
The survey was carried out between October 2011 and January 2012.
Various factors, including corporate governance, financial soundness, leadership, talent management and corporate social responsibility were taken into consideration for the rankings.
To compile the list, 15 industries were selected on the basis of size, contribution to gross domestic product, growth rate and national presence, among others.
Mr H. M. Nerurkar, Managing Director, Tata Steel, said the company's primary business purpose was to improve people's quality of life.
This was the standard that had guided Tata Steel in all its activities for over a hundred years, Mr Nerurkar said.
“We are consistent in our pursuit of improvements in key areas that impact our business — innovation, talent management and, most importantly, community development,” he said.
Established in 1907 as Asia's first integrated private sector steel company, Tata Steel group of companiesis among the world's leading steel manufacturers, with an annual crude steel capacity of over 27 million tonnes a year.
It is now the world's second-most geographically-diversified steel producer, with operations in 26 countries and a commercial presence in over 50 countries.
The Tata Steel group of companies registered a turnover of $26.64 billion in FY2011.
It employs over 81,000 people across five continents.
The list of admired companies was prepared on the basis of a survey of 507 executives across 291 companies.
The survey was carried out between October 2011 and January 2012.
Various factors, including corporate governance, financial soundness, leadership, talent management and corporate social responsibility were taken into consideration for the rankings.
To compile the list, 15 industries were selected on the basis of size, contribution to gross domestic product, growth rate and national presence, among others.
Mr H. M. Nerurkar, Managing Director, Tata Steel, said the company's primary business purpose was to improve people's quality of life.
This was the standard that had guided Tata Steel in all its activities for over a hundred years, Mr Nerurkar said.
“We are consistent in our pursuit of improvements in key areas that impact our business — innovation, talent management and, most importantly, community development,” he said.
Established in 1907 as Asia's first integrated private sector steel company, Tata Steel group of companiesis among the world's leading steel manufacturers, with an annual crude steel capacity of over 27 million tonnes a year.
It is now the world's second-most geographically-diversified steel producer, with operations in 26 countries and a commercial presence in over 50 countries.
The Tata Steel group of companies registered a turnover of $26.64 billion in FY2011.
It employs over 81,000 people across five continents.
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